In Part-1 of our Sales Enablement Series – Do More With Less – we covered the importance of unifying your playbook across sales and customer success. In Part-2, we covered microlearning. In Part-3, we will cover the different types of metrics enablement and revenue leaders should consider.
What data do you rely on to measure your impact as a sales or enablement leader? And how can different types of data reduce revenue leak and improve sales efficiency? Let’s look at how to use data to close the feedback loop between sales and sales enablement.
In this post, we’ll discuss:
When looking at sales productivity metrics, they are built on both reactive and proactive data. Both these indicators are important, but the leading indicator is what allows you to take action during the quarter.
Often, we look at the results of the quarter and analyze what we can do differently going forward. By then, however, it’s too late. Use both categories of indicators for maximum effectiveness of your strategy and enablement plans. For example:
Lagging: A lagging indicator is a metric for measuring your sales effectiveness. It helps you determine the business impact you’ve made. But while this helps you decide how to improve going forward, it is reactive.
Leading: A leading indicator, on the other hand, gives you an early indication of your ongoing performance. It helps you assess the progress you’re making in real-time and is therefore proactive.
Use these metrics to influence how you train and enable your sellers. For example:
The difference in sales performance between beginning-of-quarter expectations and where you are headed into end-of-quarter becomes sales coaching and sales enablement moments.
We like to evaluate every opportunity through a deal risk lens, with the data captured automatically using software and/or having sales managers use them in their forecast meetings.
Ask yourself: are we better at selling to certain business functions (e.g. finance vs. IT)?
There’s a good chance you have some anecdotal feedback on which functions you are better at selling to, but are you tracking closed sales closed-won performance by business function?
Consider the trickle down effect:
In a previous life, my company found it excelled at selling to marketing operations, sales operations, and business technology, while proving more difficult to IT. Using the data, we were able to spend time iterating on the messaging to IT and building some table stakes features. With time, they are now doing very well in that market.
By tracking and evaluating this data, sales leaders can improve their strategies and boost sales performance. You can identify gaps, which should guide your future enablement programs.
To improve sales efficiency, leverage the interconnectedness of data and feedback to drive impactful enablement programs for sales. By using both leading and lagging indicators, deal risk, and while tracking more granular sales data by business function, you can start to influence sales in the current quarter, while setting the strategic direction of where your enablement program should focus going forward.